easyMarkets cryptocurrency trading – December 2018 review

easyMarkets Cryptocurrency CFDs

Trade bitcoin CFDs directly from your easyMarkets trading account.

Established in 2001 under the trading name easy-forex, Cyprus-based easyMarkets provides forex and CFD traders with access to global markets. With an aim to make trading as easy as possible, easyMarkets offers a user-friendly platform and the ability to trade via mobile, desktop and online services.

In December 2017, easyMarkets announced that it would begin offering contracts for difference (CFD) trading on the world’s most popular cryptocurrency, bitcoin. Let’s take a closer look at the service easyMarkets offers and what you need to do to start trading cryptocurrency CFDs.

easyMarkets also offers 24/5 customer service to its users and doesn’t charge any commissions or hidden fees.

Which cryptocurrencies can I trade?

At the time of writing (January 2018), you can only gain exposure to one cryptocurrency, bitcoin, through the easyMarkets trading platform. Launched in late 2017, the bitcoin CFD allows you to trade bitcoin against the US dollar.

Rather than actually owning bitcoin, the bitcoin CFD allows you to predict the price movement of the underlying asset.

Available countries

Headquartered in Limassol, Cyprus, easyMarkets offers its products to traders in more than 160 countries around the world, including Australia. It even has an office in York Street, Sydney.

However, there are some countries where the broker does not offer its services, including the USA, Israel and Syria.

Contact easyMarkets for a full list of supported countries.

Which payment methods are accepted?

You can deposit funds into your easyMarkets trading account using the following payment methods:

How much will it cost me to use easyMarkets?

While easyMarkets does not charge any commissions on deposits or trades, you’ll need to be aware of the spread that applies to your CFD trades. This spread and other key CFD specifics are outlined in the table below:

Instrument

Spreads from

1 Contract

PIP value

Minimum contract

Maximum leverage

BTC/USD

US$90

1 bitcoin

US$0.01

0.25 bitcoin

1:10

You should also be aware that on the easyMarkets web platform, deals that are still open attract a daily rolling fee at 10:00pm GMT. This is charged seven days a week. On the MetaTrader 4 (MT4) platform, a daily rolling fee on open deals is charged at midnight GMT. This is charged five days a week, but on Wednesday you are charged three times (to cover weekend costs).

How fast will my funds be available?

The time it takes for your currency to be available in your wallet varies by the payment method used, as outlined in the table below:

Deposit method

Processing time

Mastercard

Instant

Visa

Instant

American Express

Instant

WeChat Pay

Instant

SoFortüberweisung

2 hours

Giropay

2 hours

iDeal

Instant

Maestro

Instant

JCB

Instant

China UnionPay

Instant

Skrill

1 working day

Neteller

Instant

WebMoney

1 working day

Local bank transfer

3-5 working days

International bank transfer

5-7 working days

Are there any transfer limits?

You’ll need a minimum deposit of US$100 in order to start trading bitcoin CFDs. The initial deposit when establishing an account via credit card is limited to US$1,000.

There is no minimum limit for withdrawals to digital wallets and credit or debit cards. However, a minimum amount of US$50 is required for withdrawals to bank accounts.

Is easyMarkets legitimate?

easyMarkets is a well-established platform that’s been offering its brokerage services to traders since 2001. It’s licensed by the Cyprus Securities and Exchange Commission and is authorised to provide services in Australia by the Australian Securities and Investments Commission.

easyMarkets keeps all client monies separate from its own operating funds in segregated accounts. The company also says it maintains sufficient liquid capital to cover all client deposits, potential fluctuations in its own currency positions and outstanding expenses.

Customer support

If you ever need help with your account or a specific transaction, easyMarkets offers 24/5 customer support. You can contact the company via the following:

Live chat

Phone

Email

It also offers an online Learn Centre that features how-to guides, webinars, training videos and FAQs to help you learn more about trading CFDs and forex.

Pros and cons

Pros

Access to bitcoin through CFDs

Wide range of deposit methods

No commissions

Fixed spreads for greater pricing transparency

24/5 customer support and handy online educational resources

Ability to trade using MT4 and all its in-built trading tools

Cons

Only offers access to bitcoin

BTC/USD pairing only

Minimum of US$100 required to start trading

Next steps

To get started trading bitcoin CFDs with easyMarkets, you can click the green “Go to site” link on this page and sign up for a trading account. It’s free to sign up by providing your name, country of residence and contact details, while you also have the option of opening a demo account to try out the platform’s features without risking any of your own funds.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.

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